Human Capital Management Blog

While changing Flex Spending Account Administrator's in the middle of your plan year is not ideal, it is certainly possible.

According to Gallup Poll research, 1 in 6 full or part-time working Americans also serve as a caregiver for a loved one. In most cases caregivers are unpaid, looking after an ailing parent or grandparent. For employers, this can have a significant impact on absenteeism and workforce productivity. A caregiver misses on average 6.6 days or work annually. The annual cost of caregiver absenteeism amounts to more than $25 million. As the baby boomer generation continues to age, even dedicated home care organizations are struggling to keep up with the demand. One local Albany home care provider shared that his growth problem has little to do with demand and everything to do with unavailable talent in the workforce. Nursing home or assisted living centers are cost-prohibitive, leaving families with little option but to take ailing and aging family members into their homes.

Selecting the best health plan is no longer about picking the lowest copays and deductible. Sure that is the hope, but those added benefits come with a cost. Depending on your utilization, buying up to a richer plan may give some added peace of mind and cash-flow stability, but ultimately cost more than a plan with a higher deductible, lower premium, and more out-of-pocket expense. When it comes to selecting the best health plan for you and your family, meaning the plan that provides the greatest personal value at the lowest cost and risk, it helps to first quantify your liabilities. Here are six steps to help you assess you and your family's health expense liability and make an informed decision when selecting health coverage.

Whether the goal is lowering medical claims, reducing absenteeism, or increasing employee morale, participation will always drive a successful wellness program.

Chronic health conditions in the workforce have increased 25% in the last decade. With 86% of the nation’s health care costs going to treatment of chronic conditions (diabetes, cancer, COPD), that’s an expensive figure for employers. Increased chronic health conditions may have a more immediate cost impact to self-insured employers, but everyone is subject to the increased absenteeism, employee fatigue, and productivity loss associated with poor health. Improving workforce health is only accomplished through smarter decisions at the employee level. Here are 3 ways employers can combat chronic conditions by helping employees to make smarter personal health choices.

Who doesn’t want to reduce their healthcare costs? With forecasted 2016 premium hikes across the country ranging from 7%-40%, employers are scrambling for opportunities to avoid, or at best delay, the tidal wave of rising healthcare costs. Some HMOs and health insurance companies have recently been encouraging employers in the 51-100 employee range to renew their coverage early (i.e., in late 2015). That would allow these employers to forestall their ACA-required re-classification as a “small group” by up to 11 months, delaying their move to small group, community rated products -- which are generally not as customizable as, and more expensive than, plans available to 100+ life groups. Before opportunistic employers go changing their coverage’s plan year, there are a few legal concerns to consider.  

On August 6, the IRS released yet another draft of forms 1095-C and 1094-C to help Applicable Large Employers prepare for the first year of mandatory reporting.  For the most part, since the last update in June, there are few changes to report. Specifically, the updated instructions note:

Driven by the convergence of ever-improving technology, healthcare cost drivers, consumer preference and provider/patient convenience, telemedicine is booming business. Some readers of this post may have been early adopters. Others may be wondering…Exactly what is telemedicine? How does it work? What are the opportunities for -- and the obstacles to – adoption for our employee benefit program?